Crypto YouTuber Jake Gagain recently shared his views on when the bull market will begin. Gagain explains how several meme coins are poised to dominate the market when this happens. He also claims that a meme coin will dethrone the original meme coin, Dogecoin.
Which meme coin will topple Dogecoin (DOGE)?
In particular, the analyst is most bullish on Dogecoin (DOGE) rival Shiba Inu (SHIB). Moreover, he claims that SHIB will topple Dogecoin, the largest meme-coin by market cap. In response to Gagain’s tweet, another X user laughed at the possibility of this happening. The user stated that DOGE is owned by Elon Musk. So, he suggested that it was not possible for SHIB to topple the original meme-coin because it had the backing of the richest man in the world.
the #BullRun Has Officially Begun.
— JAKE (@JakeGagain) September 27, 2023
cryptokoin.comAs you follow from , Elon Musk is a big fan of Dogecoin (DOGE). This contributes to the growth of the token. It is an undeniable fact that, especially in 2021, it helped DOGE rise 23,000% to reach its all-time high of $0.7. It was recently revealed that Musk, in addition to his vocal support, also invested in the meme coin as he “quietly funded” the token’s development.
Is it impossible for a Shiba Inu to topple Dogecoin?
With this in mind, many believe that it is not possible for SHIB to topple DOGE, the eighth-largest cryptocurrency by market cap. By the way, it should be noted that SHIB is far behind Dogecoin (DOGE) with its 19th position.
But according to some analysts, there are signs that SHIB could go big when the bull market returns and possibly go head-to-head with DOGE. This will undoubtedly be a big task. The fundamentals behind SHIB have been rejuvenated, especially after the unsuccessful launch of Shibarium. Additionally, the layer-2 network is now live and benefits Shiba Inu. So, the meme coin is stronger than ever with increased utility. Moreover, the combustion rate of SHIB increased significantly. This means more and more SHIB tokens are leaving circulation. It is possible that this will lead to an increase in the token price. It is also worth noting that SHIB surpassed DOGE in market cap at some point in 2021, according to data from CoinGeko.
Analyst explains why he is bullish on meme coin PEPE
Meanwhile, Jake Gagain is also bullish on PEPE. He gives four reasons for this. The first reason he gave is that major players, including crypto exchanges such as Binance, OKX, Crypto.com and Bybit, form part of the token’s largest holders, stating that these firms are holding their Pepe bags rather than selling. The second reason is that Pepe is free from the saga that involved three of the project’s developers putting Pepe on the market for $15.6 million. Despite this, the token has increased in market value since this incident. This means that the token has probably hit bottom, according to Gargain.
The third reason is that Pepe is currently listed on more than 100 exchanges, including the largest centralized and decentralized exchanges. Gargain claims that this will give the token more visibility and liquidity. Pepe is currently among the top 100 tokens by market cap. The analyst draws attention to this. In particular, he states that it is the third largest meme coin by market. Therefore, it claims to be well positioned to rise substantially.
To be informed about the latest developments, follow us twitter‘in, Facebookin and InstagramFollow on and Telegram And YouTube Join our channel!